Marketing n - Brainstorming A group works together to...

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Marketing Electronic Media : Selling through wireless devices Direct Media : Marketing directly to target consumers Public relations : Manages a firms communications Advertising : Paid form of communication Personal selling : Two way flow of communication Sales Promotion : Special incentives that encourage the purchase of a product Internal Research and Development : Firms’ scientists working to solve complex problems and develop new ideas Research and Development consortia : Joining other firms to explore new ideas or obtain solutions for developing new products Licensing : Buying the rights to use the technology or ideas from other research-intense firms
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Unformatted text preview: Brainstorming : A group works together to generate ideas Competitors’ products : A new product entry by a competitor may trigger market opportunity for a firm Idea Generation : Development of viable new product ideas Concept Testing : Testing the new product idea among a set of potential customers Product Development : Development of prototypes and/or the product Market Testing : Testing the actual products in a few test markets Product Launch : Full-scale commercialization of the product Evaluation of Results : Analysis of the performance of the new product and making appropriate modifications...
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